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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 83 $ 157
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 95 99
Gain on divestiture of property (80) 0
Deferred income taxes 1 8
Other, net (12) 11
Net change in operating assets and liabilities (18) (89)
Net cash provided by operating activities 70 186
Investing activities    
Expenditures for property, plant and equipment (112) (94)
Proceeds from sale of property, plant and equipment 95 1
Net cash used in investing activities (17) (93)
Financing activities    
Net increase in short-term debt 9 47
Decrease in long-term debt (10) (26)
Dividends paid (56) 0
Stock repurchased (18) 0
Common stock options exercised 0 1
Net cash (used in) provided by financing activities (74) 22
Effect of exchange rate changes on cash and cash equivalents (11) (39)
(Decrease) increase in cash and cash equivalents (31) 76
Cash and cash equivalents at beginning of period 969 1,178
Cash and cash equivalents at end of period $ 938 $ 1,254